Armstrong Fleming & Moore Inc Sells 4,148 Shares of AT&T Inc. (NYSE:T)

Armstrong Fleming & Moore Inc lessened its holdings in shares of AT&T Inc. (NYSE:T) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,479 shares of the technology company’s stock after selling 4,148 shares during the quarter. AT&T makes up 0.6% of Armstrong Fleming & Moore Inc’s portfolio, making the stock its 28th biggest position. Armstrong Fleming & Moore Inc’s holdings in AT&T were worth $1,067,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its stake in AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after purchasing an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its position in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the period. Bank of New York Mellon Corp grew its holdings in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. increased its stake in shares of AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after purchasing an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of AT&T during the second quarter valued at approximately $78,570,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T traded down $0.01 on Thursday, hitting $21.70. 7,887,397 shares of the company’s stock traded hands, compared to its average volume of 35,492,773. The company’s 50 day simple moving average is $20.86 and its 200-day simple moving average is $18.91. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a one year low of $14.31 and a one year high of $22.34. The firm has a market cap of $155.59 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 3.62 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

Several analysts recently commented on T shares. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.